Friday

A former Minister of State for Defence, Senator Musiliu Obanikoro
who is being held by the Economic and Financial Crimes Commission over
money laundering allegations has signed an undertaking to return N480m
to the Federal Government.

According to Punch, he was also forced to submit his United States
of America and Nigerian passports to the EFCC. In order to facilitate
his release, Obanikoro has has provided two sureties who are directors
in the Federal Civil Service as part of the conditions given for his
release.

A source said, “The EFCC asked Obanikoro to submit his
passports. He was only willing to drop his Nigerian passport but he has
finally submitted the American one. He was asked to produce two
directors, who must also present a three-month salary pay slip.

“He has returned N100m and has pledged to return N480m. The
actual balance is meant to be N685m, but he was able to provide receipts
for some transactions. He paid N85m to someone and that person has been
traced.

“He also bought some bulletproof vehicles when he was minister
and they will be handed over to the EFCC. The cost of the vehicles will
be deducted from the amount that should be returned. Having met the
conditions, he should be released any time from now.”

Obanikoro has been in EFCC custody since he returned to the country
on October 17, 2016 after surrendering himself to the commission in
Abuja.

He was detained for his alleged role in the diversion of N4.7bn
from the imprest account of the Office of the National Security Adviser.
The money was said to have been paid into the bank account of Sylvan
McNamara, a company in which his two sons, Babajide and Gbolahan, were
directors at the time.

Obanikoro reportedly told detectives that out of the N4.7bn, he
paid N3.880bn to Ayodele Fayose and Senator Iyiola Omisore in July 2014,
when they were the Peoples Democratic Party governorship candidates of
Ekiti and Osun states respectively.